Farm & Home Savings & Loan Ass'n v. Theiss

* NOTE: Opinion filed at May Term, 1937, August 26, 1937; motion for rehearing filed; motion overruled at September Term, December 17, 1937. This case turns on whether or not under the facts involved shareholders and directors of a corporation who place their names on the back of a nonnegotiable promissory note of the corporation prior to the consummation of the transaction may establish a contemporaneous parol agreement that they were not to be held liable as promissors on said note, and whether or not such signatures are supported by a consideration.

The Union Coffee Grocer Company, a…